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U.S. Home Prices Rose 5.6% in 12 Months Through November

U.S. home prices climbed 5.6 percent in the 12 months through November as buyers competed for a dwindling inventory of properties, according to the Federal Housing Finance Agency.

Prices rose 0.6 percent from October on a seasonally adjusted basis, the FHFA said today in a report from Washington. The average estimate of 15 economists in a Bloomberg survey was for a 0.7 percent advance. The index is 15 percent below its April 2007 peak and about the same as the August 2004 level.